Gem has entered into a binding agreement with Global Gems International for an option to acquire a 88% ownership of Global Gems, and thereby attain 88% of a 45% interest in the Dala Project.
In exchange for the Option the Company has agreed to:
Resident in South Africa, 60 years of age, an experienced entrepreneur with high levels of personal credibility and integrity. A proven track record of success in Angolan prospecting and mining operations as C.E.O for a number of companies for over a decade. 25 years of senior management consulting and hotel and property development in South Africa . Currently Chairman of the Ditholo Wildlife Estate in South Africa and CEO of Global Gems International Ltd and director of various companies.
Born in Angola. 54 years of age, and is resident in Angola and South Africa. His knowledge of the Angolan political and socio-economic circumstances is unsurpassed. Together with a Mining & Geology, as well as, a Business Management Degree, has 20 years of experience in exploration and mining in Angola. Directly involved with several alluvial and kimberlite diamond projects in Lunda Province and Phosphate projects in Cabinda, many of which are now owned and operated by listed entities.
A resident in Kimberley, South Africa, Kevin has over 40 years of experience in diamond evaluation and buying and marketing.
Piet is a South African resident with extensive experience in the public & private security sectors, with the emphasis on diamond security and personnel well-being.
5,000 to 7,000 carats/month at an average value of USD$350/carat.
Capex of USD$3 million paid back in 3 months.
Mining with divers in the active river channel of the Tchicapa River.
2,000 carats/month with an average value of >USD$1,000/carat.
5,000 carats/month at an average value of USD$970/carat.
The Lua Projects collectively generated ~USD$180 million in revenue prior to being sold.
Global Gems to initiate bulk sampling of the best alluvial targets with the aim of generating cash flow within Year #1.
GEM to conduct exploration to prioritize alluvial targets and develop a plan for longer term kimberlite exploration.
Located to the west of Dala, the Lulo Project provides an excellent example of the strategy to be implemented by GEM & Global Gems. Some facts about the Lulo Project:
Lucapa recently announced the recovery of a 90.32 carat D colour Type IIa diamond one of the rarest and highest value categories of diamond in nature.
In February 2016, Lucapa announced the recovery of an exceptional 404 carat Type IIa D-colour diamond. This gem, the biggest ever recovered in Angola, sold for US$16 million.
A total of 31 special diamonds (>10.8 cts) have been recovered from a high grade area since mining commenced in that area on August 10, 2015.
These results demonstrate the exceptionally high-value potential offered by alluvial diamond deposits in Angola.